Press Release:
KEARNEY, Neb.–(BUSINESS WIRE)– The Buckle, Inc. (NYSE:BKE – News) announced today that net income for the fiscal quarter ended January 29, 2011 was $49.5 million, or $1.06 per share ($1.05 per share on a diluted basis). Net income for the fiscal year ended January 29, 2011 was $134.7 million, or $2.92 per share ($2.86 per share on a diluted basis).
Net sales for the 13-week fiscal quarter ended January 29, 2011 increased 10.4 percent to $303.1 million from net sales of $274.4 million for the prior year 13-week fiscal quarter ended January 30, 2010. Comparable store net sales for the 13-week period ended January 29, 2011 increased 6.3 percent from comparable store net sales for the prior year 13-week period ended January 30, 2010.
Online sales (which are not included in comparable store sales) increased 17.3 percent to $21.1 million for the 13-week period ended January 29, 2011, compared to the 13-week period ended January 30, 2010.
Net sales for the 52-week fiscal year ended January 29, 2011 increased 5.7 percent to $949.8 million from net sales of $898.3 million for the 52-week fiscal year ended January 30, 2010.
Comparable store net sales for the 52-week period ended January 29, 2011 increased 1.2 percent from comparable store net sales for the prior year 52-week period ended January 30, 2010. Online sales (which are not included in comparable store sales) increased 19.3 percent to $62.4 million for the 52-week period ended January 29, 2011, compared to the 52-week period ended January 30, 2010.
Net income for the fourth quarter of fiscal 2010 was $49.5 million, or $1.06 per share ($1.05 per share on a diluted basis), compared with $42.1 million, or $0.92 per share ($0.90 per share on a diluted basis) for the fourth quarter of fiscal 2009.
Net income for the fiscal year ended January 29, 2011 was $134.7 million, or $2.92 per share ($2.86 per share on a diluted basis), compared with $127.3 million, or $2.79 per share ($2.73 per share on a diluted basis) for the fiscal year ended January 30, 2010.
Management will hold a conference call at 10:00 a.m. EST today to discuss fourth quarter results. To participate in the call, please call 800-230-1085 and reference the conference code 194716. A replay of the call will be available for a two-week period beginning March 10, 2011 at 12:00 p.m. EST by calling 800-475-6701 and entering the conference code 194716.
About Buckle
Offering a unique mix of high-quality, on-trend apparel, accessories, and footwear, Buckle caters to fashion-conscious young men and women. Known as a denim destination, each store carries a wide selection of fits, styles, and finishes from leading denim brands, including the Company’s exclusive brand, BKE.
Headquartered in Kearney, Nebraska, Buckle currently operates 420 retail stores in 41 states. As of the end of the fiscal year, it operated 420 stores in 41 states compared with 401 stores in 41 states at the end of fiscal 2009.
